FNX Mining Company Inc.

FNX Mining Company Inc.

January 16, 2008 13:00 ET

FNX Announces Management Changes

TORONTO, ONTARIO--(Marketwire - Jan. 16, 2008) - FNX Mining Company Inc. ("FNX" or the "Company") (TSX:FNX) announces the following senior management changes:

Mr. Anthony P. Makuch, Senior Vice President and Chief Operating Office of the Company will resign from FNX, effective February 29th, 2008. Mr. John Lill, President and CEO of FNX stated that, "Tony Makuch was instrumental in the growth and success of the Company's Sudbury operations from the beginning as Vice President Operations Sudbury Joint Venture. On behalf of FNX and the Board of Directors, I want to express our thanks to Tony for his considerable contribution to the FNX story and to wish him every success in his new position as CEO with Lake Shore Gold."

Mr. Vernon Baker has been appointed Vice President Sudbury Mining Operations, effective February 1, 2008. In his new role, Mr. Baker will be responsible for all the Company's Sudbury mining operations and development projects. He will be located in Sudbury, Ontario and report to the CEO. Mr. Baker is an experienced mining executive with more than two decades of operational experience with several major mining companies, including Homestake, BHP, Stillwater, and most recently with Barrick Gold as General Manager of Hemlo operations and General Manager of their Goldstrike Property in Nevada. He has a Bachelor of Science degree in Mining Engineering from the MacKay School of Mines at the University of Nevada Reno and MBA from Stanford University's Graduate School of Business

Ms. Julie Galloway has been appointed Vice President General Counsel, effective January 7, 2008. In her role at FNX, she will be responsible for the oversight of all legal, corporate governance and regulatory compliance. She will be located in FNX's Toronto office and report to the CEO. Ms. Galloway brings extensive corporate legal experience in the mining industry to FNX. She worked as Dynatec Corporation's General Counsel for the past two years and, previously, had more than 10 years of service with Falconbridge/Noranda in a number of legal positions, including Associate General Counsel. Prior to this, Ms. Galloway worked at the law firm, Blake Cassels and Graydon. Ms. Galloway has a BA in economics and political science from the University of Waterloo and a law degree from the University of Toronto.

John Lill, President and CEO, noted that "Our ability to attract such experienced and accomplished people as Vern Baker and Julie Galloway is a positive endorsement for FNX and its reputation as an exciting place to work. I'd like to welcome them to the FNX team and look forward to their contribution to our Management Team's work to drive FNX to its fullest potential."

About FNX

FNX operates, develops and explores its mining properties located in the prolific Sudbury mining camp, Ontario, Canada. The Company produces nickel, copper, cobalt, platinum, palladium and gold ores from its McCreedy, Levack and Podolsky Mines, crushes and samples the ore on surface and trucks it to third party facilities to be milled, smelted, refined and marketed. FNX has aggressive plans to significantly increase ore and metal production over the next three years based on the previously announced increase to 42.7 million tons of measured and indicated resources and 35.1 million tons of inferred resources. Well financed, generating strong cash flow and debt free, FNX is well positioned to implement its ambitious growth plans.

Contact Information

  • FNX Mining Company Inc.
    John Lill
    President and CEO
    (416) 628-5929
    (416) 360-0550 (FAX)
    FNX Mining Company Inc.
    David Constable
    Vice President, Investor Relations and Corporate Secretary
    (416) 628-5929
    (416) 360-0550 (FAX)
    Email: info@fnxmining.com
    Website: www.fnxmining.com